Oklahoma's annual sales tax holiday starts Friday
August 3, 2017
The annual Oklahoma Sales Tax Holiday weekend has come to serve as the unofficial kickoff to the back-to-school shopping season.
The three-day tax-free event returns this week for the 11th year and officially begins at 12:01 a.m. Friday. It will run through midnight Sunday night, Aug. 6.
Through its first 10 years, the holiday has saved shoppers on average about $7 million annually, according to the Oklahoma Tax Commission, for a total savings of around $70 million.
The way it works remains the same: Over the weekend, retailers will collect no state or local sales taxes or use taxes on most clothing and shoes priced under $100.
And that’s not the only way shoppers can save.
“Additionally, many stores may offer additional sales and deals to celebrate the weekend,” Oklahoma Tax Commission spokeswoman Paula Ross said. “This can result in big savings for citizens throughout the state.”
Not eligible for the tax exemption are clothing items intended for athletic use or accessories such as jewelry, handbags, wallets and watches.
Eligible items purchased online are tax-free, even if they are not delivered until after the tax-free weekend, as long as the transaction is made during that time.
The holiday began in 2007 and has been offered annually since.
The goal, state officials say, is to help families save money on back-to-school clothing while encouraging shoppers to support Oklahoma businesses.
Before the first sales tax holiday in 2007, Ross said, the state felt like it was losing money to neighboring states that had sales tax holidays. Now the state feels like it is keeping that money in Oklahoma while giving consumers a discount.
The state may miss out on some revenue because of the weekend, but it gets some of it back, officials said. Many of the shoppers also buy gas and eat meals out, none of which are tax-free.
“I think it’s a great opportunity for Oklahoma families to get out and enjoy the wonderful clothing retailers in their own backyards,” Raper said.
“I like to remind folks to check out the smaller shops around town for some of those unique finds to go along with the big sale items you may find at the big stores.”
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